Motilal Oswal: Covid-19 Led Aberration Hurts Strides Pharma’s Q2 Performance
Capsules fall into a holding bin. (Photographer Ariana Lindquist/Bloomberg)

Motilal Oswal: Covid-19 Led Aberration Hurts Strides Pharma’s Q2 Performance

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Strides Pharma Science Ltd.’s Q2 FY21 performance came in below estimates due to Covid-19-related disruptions at its manufacturing facilities and softness in demand in the UK, select European countries.

However, the outlook remains positive, with normalcy back in manufacturing operations.

The company’s revenues were up 11% at Rs 7.9 billion (our estimate Rs 8.3 billion).

Emerging market sales were up 57% YoY to Rs 1.5 billion (19% of sales), U.S. sales were up 7% YoY at Rs 4 billion (51% of sales), and other regulated markets sales were up 7% YoY at Rs 2.4 billion (30% of sales).

Click on the attachment to read the full report:

Motilal Oswal Strides Pharma Q2FY21 Result Update.pdf

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